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The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

With the end of the Spring Festival holiday, many friends who want to buy a new car have also put their car viewing/buying plans on the agenda. And this time period happens to be a good time for major car companies to "canvass". Compared with the release of new cars, price reduction is undoubtedly the most gimmicky, and the recent auto market has also fired the "first shot" of the price war in 2024.

BYD took the lead in cutting prices

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

On February 19, BYD took the lead and officially launched the Qin PLUS Glory Edition model with "electricity is lower than oil" as the copy, of which the guide price of the DM-i version was reduced to 79,800 yuan, and the EV version was reduced to 109,800 yuan. As soon as the news came out, the whole network was boiling, and netizens said that the price was no longer a "table lifting" but was ready to push off the high-rise building of the joint venture compact car.

Indeed, since the launch of the Qin PLUS Champion Edition model, the domestic compact car market share pattern has changed greatly, the once invincible Toyota Corolla, Toyota Leiling instantly lost color, Nissan Sylphy, Volkswagen Lavida / Bora and other models, also turned offensive to defensive, relying on price reductions to support market share. Now, the price of the Qin PLUS Glory Edition has dropped again, leaving the living space of the joint venture compact car to be further compressed.

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

There is a gimmick, so can BYD retain consumers?

As we all know, car price reductions are no longer uncommon, but what everyone is worried about is that BYD will learn from some brands to reduce allocation after the price cut, after all, this price war will be boring. After carefully pondering some configurations of the Qin PLUS Glory Edition, the Travel Bureau found that BYD did not touch the "minefield" this time, but also made some upgrades.

For example, the Qin PLUS Glory Edition has added a new color scheme, allowing everyone to choose from a wider range of options. Secondly, the continuous dialogue function of the intelligent upper and lower motors has been added, and the car machine has been upgraded to 665 chips, in other words, BYD has played a price reduction this time. Horizontally comparing the price reductions of joint venture brands, it is no wonder that BYD's response to this price reduction is so great.

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

So, having said that, why can BYD increase the allocation and reduce the price this time? I believe this is also a question that many car lovers are more puzzled about, after all, when the joint venture brand reduced the allocation and price reduction, they were emphasizing that this is a last resort. In fact, the reason why BYD has this confidence is mainly because the product of Qin PLUS is relatively mature, and the market size is large enough, just like Tesla's model, as long as the production capacity goes up, the cost will definitely be reduced, and the cost can be reduced, and the price can be reduced.

Therefore, BYD's price reduction this time will most likely have an impact on the market share of the "only" joint venture fuel cars, such as Volkswagen Lavida and Nissan Sylphy.

Hyundai confronts BYD

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

Not long after BYD's official announcement, Hyundai, as a representative of traditional fuel vehicles, stood up and announced the latest price of its compact sedan Elantra, starting at 75,800 yuan. What's more, the modern poster copy is "oil" is stronger than "electricity", and you can smell the full smell of gunpowder through the screen.

It is true that Hyundai is one of the world's top five car companies, and the Elantra has indeed left a strong mark in the Chinese auto market, but it has no say in today's Chinese market. Elantra in many areas, the terminal price of the new car has dropped to more than 70,000, in other words, Hyundai stood up against BYD this time, it is likely to rub the traffic and want to sell more of its Elantra.

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

As for the definition of "oil is stronger than electricity", this is somewhat far-fetched, after all, it is more economical to travel with electricity than with oil. Of course, at this time, some people may say that trams can only be used in cities, and it is convenient to use fuel for long distances. In fact, with the improvement of car charging infrastructure, the number of public charging piles is increasing day by day, with an increase of nearly 1 million units in 2023, and 3.386 million units including private piles. So, getting around by train isn't as hard as everyone thinks!

Wuling and Changan follow the "price war"

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

After BYD took the lead in launching the first shot of the 2024 price war, Wuling and Changan couldn't sit still. On February 19, Wuling also brought a Wuling Starlight Glory price - 99,800 yuan. Some people may say that this price is not ruthless enough, but we must know that Wuling Xingguang is an A+ class sedan with a range of 150km and a wheelbase of 2800mm.

The price war in the 2024 auto market has officially begun! Hyundai "confronts" BYD, and Wuling follows the trend to reduce prices

After Wuling followed suit, Changan Automobile's Changan Qiyuan brand also stood up, and the price of its plug-in hybrid sedan A05 was as low as 78,900 yuan. Interestingly, Chang'an Qiyuan's poster with a picture copy is "Electricity is lower than oil!", it is not difficult to see that it chose to support the former in the "confrontation" between BYD and Hyundai.

As of press time, four brands have joined the "price war" of the auto market in 2024, so who will be the next brand to join? Such as Volkswagen, Toyota, Honda, and even luxury brands such as Mercedes-Benz, BMW and Audi, will they follow suit?

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